10 Best
Long Term Care Insurance
of 2024
Long Term Care Insurance
of 2024
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- Nation’s leader in Long-Term Care insurance since 1976
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- They also offer Hybrid Long-Term Care insurance, Short-Term Care & Home Health Care plans
Genworth Long Term Care Insurance Review
ConsumersAdvocate.org
46 Customer Comments & Reviews - see all comments
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Headquartered in Richmond, Virginia, Genworth Financial is an insurance and mortgage solutions company offering life and long-term care insurance products, as well as mortgage insurance and annuities, throughout the United States and abroad. The company has been in business since 1945.
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46 Customer Comments & Reviews
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My wife and I purchased individual LTC policies when we were 57 and 56 respectively to guarantee lower rates. Our initial premiums total approximately $2600 annually. A few years ago they increased to approximately $3,800 annually. We bit the bullet and stayed with them, although our income is basically fixed. We just received notification of a major rate increase on 8/10/18 from Genworth LTC. We have unlimited policies (timewise) that increase annually 5% in terms of daily amounts. Projected over the next three years my wife and I will see a rate increase of 182.7%. My wife's increase will go from $1987.20 a year to $5,618.10. Mine goes from $1,815.84 to $5,133.70! Three... Read More
We were appalled that Genworth did not take the advice of the Care Scouts who advised them that my husband needed help round the clock the last month of his life. While Medicare paid for hospice, Genworth would not pay for the "Angels" who helped him so well on 12 hour shifts for 30 days...even tho he had multi thousands left to be used in his policy. I feel they should bend the maximun per day if he hasn't used anywhere near it for most of the time they were paying for once a week care. They should say if you don't use the max per day, it should be saved for the last days when it does take 24/7 care that a wife can't provide.
I have been paying monthly payments on this Dr 20 years. My lawyer said it is one of the best he has seen for long term care. I’m 76 now.
Don't get me wrong, I loathe Genworth just like everyone else. But really, many of these complaints are the result of people not knowing their policies! For example, if you break both your legs, are you covered by long term care? No! The policy says your need for care must last more than three months, and must be approved by one of their nurses as a long term illness! Read the contract! The contract is super exclusionary! Read it! Can a relative get reimbursed for the care they give? No! Absolutely not. No relatives can be paid caregivers! Can you avoid a Genworth nurse doing coming to your house to assess your health status? You better let them in to do the... Read More
12 words to rate this business? I will give you 5 words. there ought to be a LAW! I am not a policy holder per say, but am an independent care provider for an elderly man who has had this policy for approx. 15 years and up to now has never had to submit a claim. But now that he is ill... the insurance company sent out a visiting nurse to take a complete evaluation on his current health condition and to better understand just what kind of claims he will be submitting. Everything that the nurse explained to my client, the policy holder, made perfect sense and we both felt very confident that this was going to be a smooth process... and how wonderful for him that he has... Read More
Do NOT buy there long term insurance. My poor mom paid into their program for 30 years and now it is ridiculous trying to get them to pay for anything with all the deliberate hurdles they put up to try and actually make a claim. There famous response is "we have not received your paperwork" when both the home service and myself personally resend and resend the invoices over and over again. It is their ploy. DO NOT trust them
My husband and I both have policies with Genworth. We are not happy with the huge premium increases we have seen over the past couple of years. However, we saw first hand how this company comes through for those that actually need it. Both my parents - one with kidney failure and one with Alzheimer's used their benefits through Genworth to afford the care they needed. Genworth claims professionals were quick with the paperwork and very responsive to any questions or problems that arose. Now that my father is gone, and I am responsible for caring for my mother, I have been very impressed with how Genworth processes claims in a timely way and responds quickly to any questions that I... Read More
DO NOT DEAL WITH THIS COMPANY!!!! It is nothing but a SCAM. MY aunt is 88 years old and is in an assisted living facility because she can no longer care for herself. She paid into this company 30 years and they refuse to pay for her care. She has to have help dressing, getting in and out of bed, walking, etc... It is appalling that these people are allowed to steal from trusting consumers in this manner. We are having to use some of her hard earned money to secure a lawyer to fight them for the money they SHOULD be paying.
I have had a long term plan policy in place for 9 years. I thought I purchased a product with a fixed premium. On my 70 th Birthday, I received a premium change notice increasing my annual premium from $3,500 to $5,300. I feel misled and defraud by this action as I approach a time where I my need benefit that I thought I had purchased.
James M
Illinois
I continue to hold my LTC insurance coverage with Genworth, although I am not at all certain this is worthwhile. I am seeking the services of a lawyer specialist in evaluating what my policy will actually deliver once the insurance contract wording is translated into true cost benefits and limitations. it is especially troublesome, that the ultimate control of releasing funds in subject to their in-house decision group, who seem able to constrict payouts on an arbitrary basis if you are reading all the problems with their policy holder claims.
As a result I would not recommend this insurance as truly mind easing and complete.
Top Rated
Our Partner
- Nation’s leader in Long-Term Care insurance since 1976
- As an independent brokerage, they provide unbiased information based on your needs
- GoldenCare has access to the Top LTC companies & discounts available
- They also offer Hybrid Long-Term Care insurance, Short-Term Care & Home Health Care plans